Kolkata Port Trust dredg­ing to be con­tin­ued with ` 1,501 crore

Cargo Talk - - Industry News -

The Union Cab­i­net has ap­proved the pro­posal for ex­ten­sion of fi­nan­cial as­sis­tance to Kolkata Port Trust ( KoPT) to meet the dredg­ing ex­pen­di­ture in­curred by KoPT for main­te­nance of the river/chan­nel. This will make trans­ac­tions through the port com­mer­cially vi­able for the port users.

The scheme of fi­nan­cial as­sis­tance to KoPT to­wards dredg­ing will be con­tin­ued for a to­tal amount of ` 1,501.35 crore for the pe­riod from 2012-13 to 2015-16. The ex­tant pol­icy for award­ing the dredg­ing work in other ma­jor ports will be fol­lowed in re­spect of the dredg­ing work to be car­ried out in Kolkata Port.

An `on ac­count` pay­ment up to 90 per cent of the amount payable to­wards fi­nan­cial as­sis­tance dur­ing the pre­vi­ous year may be made to KoPT in the fol­low­ing years in equal quar­terly in­stall­ments based on au­dit cer­tifi­cate for the pre­vi­ous year.

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